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Engel & Völkers, a luxury real estate brokerage based in Germany, has established a franchise in Denver under the direction of local real estate veteran Jim Cavoto.

Cavoto has taken his firm, Ion Real Estate, which counts more than 40 advisers, and rebranded it as Engel & Völkers Denver. Cavoto will remain in charge of the office, along with J. Steven Opp.

Engel & Völkers previously had seven locations in Colorado focused on the mountain resort areas of Aspen, Vail, Beaver Creek, Roaring Fork, Snowmass, Telluride and Carbondale. The Denver office will cover high-end properties from Castle Rock to Longmont, including Boulder.

In the first half of the year, buyers purchased 1,174 metro Denver homes and condos with a price tag of $1 million or more, according to the Denver Metro Association of Realtors.

“Engel & Völkers introduces a new standard of service to Denver’s evolving market,” Cavoto said in a news release. “As the city attracts a growing population from around the country and even the world, home buyers and sellers here have come to expect a certain level of quality and personalized attention.”

Engel & Völkers, founded in 1977 and based in Hamburg, Germany, counts more than 11,000 real estate advisers in 30 countries.

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